iRobot Co. (IRBT) Expected to Post Quarterly Sales of $317.31 Million
Brokerages predict that iRobot Co. (NASDAQ:IRBT) will post $317.31 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for iRobot’s earnings. The lowest sales estimate is $315.86 million and the highest is $318.75 million. iRobot reported sales of $212.49 million during the same quarter last year, which would suggest a positive year over year growth rate of 49.3%. The business is expected to issue its next earnings report on Wednesday, February 14th.
On average, analysts expect that iRobot will report full year sales of $317.31 million for the current year, with estimates ranging from $872.87 million to $875.76 million. For the next fiscal year, analysts anticipate that the company will post sales of $1.01 billion per share, with estimates ranging from $1.00 billion to $1.01 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow iRobot.
iRobot (NASDAQ:IRBT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.16. The firm had revenue of $205.40 million during the quarter, compared to analysts’ expectations of $204.52 million. iRobot had a net margin of 7.80% and a return on equity of 12.79%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share.
A number of brokerages have weighed in on IRBT. Zacks Investment Research raised shares of iRobot from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday, November 2nd. Canaccord Genuity reaffirmed a “hold” rating and issued a $65.00 price target (down previously from $95.00) on shares of iRobot in a research note on Thursday, October 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of iRobot in a research note on Thursday, October 26th. Dougherty & Co reaffirmed a “neutral” rating on shares of iRobot in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies cut their price target on shares of iRobot to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $70.75.
In other news, Director Andrew Miller sold 441 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $80.11, for a total value of $35,328.51. Following the sale, the director now owns 4,670 shares of the company’s stock, valued at $374,113.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Colin M. Angle sold 45,200 shares of the business’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $80.06, for a total transaction of $3,618,712.00. Following the completion of the sale, the chief executive officer now directly owns 534,663 shares in the company, valued at approximately $42,805,119.78. The disclosure for this sale can be found here. Insiders own 4.49% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc raised its position in iRobot by 16.5% during the second quarter. Legal & General Group Plc now owns 52,487 shares of the industrial products company’s stock worth $4,419,000 after acquiring an additional 7,418 shares in the last quarter. Alps Advisors Inc. bought a new stake in iRobot during the third quarter worth $359,000. Parametric Portfolio Associates LLC raised its position in iRobot by 17.2% during the second quarter. Parametric Portfolio Associates LLC now owns 59,241 shares of the industrial products company’s stock worth $4,985,000 after acquiring an additional 8,711 shares in the last quarter. Stifel Financial Corp bought a new stake in iRobot during the second quarter worth $4,470,000. Finally, Cipher Capital LP bought a new stake in iRobot during the third quarter worth $411,000. 82.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of iRobot (NASDAQ IRBT) traded up $0.01 during midday trading on Wednesday, reaching $81.18. 613,100 shares of the company were exchanged, compared to its average volume of 946,666. The firm has a market capitalization of $2,250.00, a PE ratio of 38.47, a P/E/G ratio of 1.50 and a beta of 0.99. iRobot has a 52-week low of $52.12 and a 52-week high of $109.78.
iRobot Company Profile
iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company’s portfolio of solutions features various technologies for the connected home and various concepts in mapping, navigation, mobility and artificial intelligence. The Company sells various products that are designed for use at home.
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